Webinar

Partnership Checkup: Tax Issues and Forms Reporting

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This program addresses the most recent developments impacting partnerships operating as LLCs, with a focus on legislative, administrative, and tax form changes. Emphasis will be placed on partners "tax basis" capital accounts & now required for tax form reporting, as well an overview of K-2 and K-3 reporting requirements and effective dates. Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Major subjects

• Clarify the importance of partnership capital accounts and partnerships debt on partner's tax basis.
• Impact of contributed property.
• Explain the importance of shareholder loans to the entity.
• Discuss how basis is impacted by distributions of corporation property and the sale/or liquidation of the S corporation interest.
• Comprehensive examples illustrate the mechanics of the basis determination process.
• Discusses how S corporation losses impact Form 1040 Schedule E reporting.
• How to get from the Schedule K-1 information to the basis calculations.

Learning objectives

• Identify recent tax developements impacting the partnership entity and its partners.
• Identify potential pitfalls and planning opportunties.

Who should take this program?

• CPAs working in public accounting firms and/or working for within a partnership.

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $149.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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